Medical Cameras and Microscopes market accounted for US$ 2.3 billion in 2019 and is estimated to be US$ 5.2 billion by 2029 and is anticipated to register a CAGR of 8.3%.
Increasing prevalence of the chronic diseases such as cancer and blood disorder is mainly to offer lucrative avenue for the growth of the medical cameras and microscopes market in the coming years.
The report "Global Medical Cameras and Microscopes Market, By Cameras Type (Endoscopy Cameras, Dermatology Cameras, Ophthalmology Cameras, Dental Cameras, Surgical Microscope Cameras (Ophthalmology, ENT, and Neurosurgery), and Pathology Microscope Cameras (Hospital Laboratories, Diagnostic Laboratories, and Physician Offices)) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Due to the outbreak of Covid-19 pandemic globally, imaging modalities is widely preferred by most healthcare professionals as it provides a primary diagnosis in a short time. All the imaging technologies involving nuclear imaging have been used exhaustively to study Covid-19 and its effect on different patients in each demography. The increasing requirement for advanced imaging solutions is projected to drive the development studies globally. The report will account for Covid19 as a key market contributor.
Key Highlights:
· On June 2020, Olympus, a leader in delivering optical and software solutions for the life sciences, and PhenoVista, a leading provider of custom imaging-based phenotypic assay services, are collaborating to deliver 3D cell-based assay services for drug discovery.
· On April 2020, Olympus Corporation declared the launch of EVIS X1, its most advanced endoscopy system to date. The new system is to improve outcomes from disorders of the colon, stomach, and oesophagus, as well as from bronchial diseases, by providing every endoscopist with innovative and proven tools. The launch of EVIS X1 further strengthens Olympus’ leadership in endoscopy and continued medical focus.
Analyst View:
Growing inclination of patients towards invasive surgeries is a robust factor likely to drive the global medical cameras and microscopes market in the coming years. Additionally, growth in the use of medical camera and microscopes for surgeries such as ophthalmology, neurosurgeries is another factor expected to boost the global medical cameras and microscopes market. Furthermore, advancement in medical devices is growing the demand of the medical cameras and microscopes in the market. For instance, Olympus Corporation introduced ORBEYE Surgical Microscope. The device is based on 4K 3D video technology. Sony Imaging Products & Solutions Inc. and Olympus Corporation have developed this technology.
Key Market Insights from the report:
The global medical cameras and microscopes market accounted for US$ 2.3 billion in 2019 and is estimated to be US$ 5.2 billion by 2029 and is anticipated to register a CAGR of 8.3%. The market report has been segmented on the basis of cameras type and region.
· By cameras type, endoscopy is the highest segment, due to the use of life science imaging technique for conducting surveillance in tight spaces such as cavity of the body or hollow organ. Further, the pathology microscopes segment includes hospital laboratories, diagnostic laboratories, and physician offices. The hospital is the highest segment of pathology microscopes due to the greater financing capabilities and higher number of patient admissions and surgeries performed in hospitals.
· By region, North America is expected to account for major market share in terms of revenue in the target market as compared to that of other regions. This can be attributed due to rising proportion of geriatric population and the increasing prevalence of diseases such as cancer in the countries of the region.
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Competitive Landscape:
The prominent player operating in the global medical cameras and microscopes market includes Olympus Corp., Carl Zeiss Meditec AG., Nikon Corp., Leica Microsystems AB., Danaher Corp., Allied Vision GmbH., Topcon Corp., SPOT Imaging Solutions Ltd., Stryker Corp., and JOEL Ltd.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
